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US retail giant Walmart's strong results
Walmart raised its full-year forecast overnight, posting another quarter of solid results, grabbing market share in groceries and other staples against a backdrop of inflationary pressures.
The big retailer, which has been seen as well positioned amid a period of pricing pressure because of its reputation for value, enjoyed another quarter of growing sales at its namesake US stores.
Second-quarter profits of $US7.9bn, up 53 per cent from the year-ago period, a period marred by excess inventories due in part to pandemic supply chain issues. Revenues rose 5.7 per cent to $US161.6bn.
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